Frequently Asked Questions
What are Payoneer withdrawal fees?
Payoneer charges $2 for local bank withdrawals in most countries. There are no fees for Payoneer-to-Payoneer transfers. Currency conversion uses a rate slightly below market (typically 0.5-2% spread).
Is Wise or Payoneer better for freelancers?
Wise typically offers better exchange rates and lower fees for most currency pairs. Payoneer is better if your clients pay via Payoneer directly (no fee for P2P transfers). This calculator shows the real difference.
How much do I lose withdrawing USD to PKR?
Using a local bank wire can cost $15-30 per transfer plus poor exchange rates. Wise and Payoneer typically offer better rates and lower fees. Use this calculator to see the exact difference for your transfer amount.
What exchange rates does this calculator use?
This calculator uses approximate mid-market rates as a reference. Actual rates from banks and payment services vary and change daily. Always check the current rate before making a transfer.
How it works
- Enter the amount your client is paying in their local currency.
- Select the client's currency and your local currency.
- Add any platform fees (like Upwork's 10%) and payment gateway fixed fees.
- Include the bank's FX padding (the hidden spread they take on the exchange rate) to see your true net income.
Tips for best results
- •Never rely purely on Google's exchange rate. Banks and payment processors almost always skim 2-4% off the top via the 'FX spread'.
- •Services like Wise (TransferWise) often offer true spot rates with a small transparent fee, saving you money compared to PayPal or standard wire transfers.
- •If you notice you are losing too much to fees, consider invoicing your client slightly higher to cover the international transaction costs.